Affiliation:
1. VIT-AP School of Business, VIT-AP University, Amaravati
Abstract
Blockchain is a novel technology that is being used in the banking and financial industries to provide transparency, security, cost savings, and speed. There is a research gap that provides opportunities to analyze the factors influencing blockchain adoption, theories and models employed, methods for collecting data, and techniques used for data analysis in banking and financial sectors globally. Now, the purpose of the study is to provide a literature review. It was discovered after evaluating 114 publications and 20 selected studies that the best factors for blockchain technology adoption include theories and models, data collection methods, and data analysis techniques. The new model was proposed on the factors influencing blockchain technology adoption based on a study of the literature, and it will define the agenda for future research. This will be beneficial to bankers, academics, and researchers. This study presents a review by evaluating the factors of blockchain technology adoption in the banking and finance industry to date from previous studies.